So, you are in the market for a new home…well, price is not the only thing that you need to consider: neighborhood, square footage, number of bedrooms and bathrooms, the size of the lot, and the home’s condition, just to name a few. But have you ever considered the local school district? Even you if don’t have or never plan to have children, the quality of the local school district can have a huge impact on how much you pay and ultimately how much you home will sell for in the future.
Here are just a few of the reasons why your local school district should be taken into account when purchasing a new home.
- You will pay more for a home that is located within a high ranking school district
Parents of children that are in school will often pay close attention to the school’s ranking and ratings. They are also likely to pay more for a home that is near a public school with higher scores. This criteria is often the most important part of their search.
What this means for you: A school’s high rating can often drive up the price of homes in that school district. So, whether you are buying or selling, selecting a home that is in a good school district is a very important piece of the puzzle. Schools help establish an area as a good location, and as any top realtor will tell you, location matters.
- A good school district might protect you from the real estate market’s ups and downs
Even in a down market, an excellent school can be a positive factor that brings up the value of nearby home prices.
- Though it may cost more to buy near a good school, it will be good for resale
There are no guarantees in real estate, but what is certain is that parents have always and will always want what is best for their children, and education is no exception. Whether the market is good or bad, home buyers should think about the resale of their home. When you start the home buying process, you should immediately think like a seller. Ask yourself this one question: “If the housing market in my area takes a dive and I need to sell my home, how fast and easy will it be to sell my home?”
Always pick the home that’s right for you
School districts, even if you do not have children, should be on every buyer’s radar. When you are looking for your dream home, schools should be a factor, but don’t let it be a hinderance. The right home for you is one where you are comfortable and in a location that makes sense for the lifestyle that you lead.
Check out local schools here.